Nov 20, 2009 4:00pm EST
encouraging trade talks during president obama's visit to the country back in june. egypt and the united states say improved trade relations could have wide ranging benefits, including improved political dialog. joining me to talk about this and a lot more, rashid mohamed rachid. nice to have you on the program. welcome. >> thank you. i sort of meet you in new york, i didn't know you were in london. >> i know. it's true. unfortunately you're in town and i'm here. let me ask you, egypt is the 36th largest export market for the u.s. can you characterize how business is going right now? do you see the slow join the rest of us are feeling around the world or have things stabilized? >> relatively what we experienced in egypt is much better than many other economies. we have seen a slowdown, but the slowdown in the export have been around 6%. our gdp is still growing positively. last quarter we have grown by 4.9%, positive numbers. this is lower than the 7.7% that we had before the crisis. but because the internal market is picking up and because of the construction as well as the stimulus pac
Nov 25, 2009 4:00pm EST
a main entree. president obama pardoning a 45-pound turkey named courage at the white house today. although he said he was tempted to eat the bird and had to be persuaded by daughters malia and sasha to issue the pardon. the poultry industry has supplied the white house with a turkey every year since 1937, but the tradition of pardoning a turkey actually did not start until 1989, and that happened to have been under president george h.w. bush. >>> before we go we want to take a look at the day on wall street. taking a peek right here. you can see the dow closed up 30 points. a gain of nearly .3% there. fresh highs there for the dow at 10,464. as well as the s&p, which gained nearly half a percent. fresh high there for the year.
Nov 19, 2009 3:00pm EST
obama's plans to overhaul the financial regulatory system. he was on the defensive today. they had some congressmen saying he should resign. geithner said while the economy is in the process of recovery and predicted gdp growth in the fourth quarter, he said the reform effort is essential for ensuring another financial meltdown does not happen. >> there is no growth, no economic growth and no innovation without access to capital and credit. but if you let the financial sis 2e78 become too fragile and too unstable, if you allow risk to evade the safeguards we established in the system, if you allow firms to escape protections for consumers and investors, if you create excessive risk taking in real estate, if you allow moral hazard to spread, the consequences will be brutal and the damage indiscriminate and long lasting. >> the mortgage bankers association reports that mortgage delinquencies hit a record 14.4% of all mortgages, which are delinquent or in foreclosure. perhaps more troubling, about a third of all new homes are in foreclosure, are from -- excuse me, prime loans, not subprime
Nov 27, 2009 1:00pm EST
economic recovery. a senior u.s. treasury official telling cnbc's john harwood that the obama administration is monitoring closely the situation in dubai. so let's get some analysis. mary thompson remains our eye on the floor at the new york stock exchange. mary, back to you. >> you know, simon, typically this day after thanksgiving the focus is on retailers because it is black friday, one of the busiest shopping seasons of the year, but of course as we were all hearing overnight, the sell-off around the world, the focus became dubai and concerns as to whether or not the country would default on debt that's owned by its investment arm. as a result at the open we saw a pullback. the dow jones industrial average falling more than 200 points, but but what we saw throughout the session were some positive signs. the european market it's started to recover and the dollar's strength which is basically as the dollar moved higher the markets had been moving lower. the dollar started to move some of that strength and as a result you saw the markets move a little bit. the s&p 500 also mo